Episode 247: Today, Ann digs into Goldman Sachs’ latest bet on ETFs and why the bank has spent billions on the sector. Then, an earnings roundup that includes On Holding, CAVA, Chili’s and more. Next up, a look at the Nelson Peltz-Wendy’s saga and a record deal in the sports world. Visit Schwab.com/FinancialDecoder www.brewmarkets.com Subscribe to the Brew Markets newsletter: https://www.morningbrew.com/brew-mark... Follow Brew Markets on social: Instagram: instagram.com/brewmarkets TikTok: tiktok.com/@brewmarkets X: x.com/brewmarkets Follow Ann Berry on social: Instagram: instagram.com/annberry_nyc X: x.com/AnnBerry_NYC Listen to Brew Markets Here: swap.fm/l/9Qk4z73Z2nEwFiCB4qee Watch Brew Markets Here:⁠ https://www.youtube.com/@BrewMarkets The content shared on this podcast is for informational and entertainment purposes only and should not be considered financial, legal, or investment advice. Brew Markets, Morning Brew and their hosts are not licensed financial advisors. Listeners should conduct their own research and consult with qualified professionals before making any financial decisions or investments. The views expressed are those of the hosts and guests and do not necessarily reflect the views of Morning Brew or its affiliates. This podcast may include paid endorsements or sponsorships Learn more about your ad choices. Visit megaphone.fm/adchoices

Goldman Sachs’ New $2B Revenue Stream & Chili’s Banks on Chicken

Brew Markets

Carver, Chilis, On Holdings, it is still earnings season and we've got quite a roundup. Nvidia, Meta both released open-weight AI models this week. Are they sending a message? And if so, to whom? And Goldman Sachs, the banking OG, just spent more than $2 billion on an ETF business. What is driving the move and why is it happening now? We break it all down. For Wednesday, August 12th, it's Brew Markets Daily and I'm Ann Berry.

More market details to come. But first, ETFs. Now with more of them in existence than there are individual stocks and getting ever more attention from some financial institutions that have historically stayed away. I'll get to why in just a moment. Well, Goldman Sachs today announced it will pay as much as $2.25 billion to buy NEOS investments. The cash and equity deal adds a fast-growing ETF issuer to the banking giant's suite of actively managed exchange-traded funds.

Well, the deal brings to Goldman $30 billion of assets under supervision. That's across NEOS' 19 options-based income ETFs, bumping the banking giant to number eight amongst active ETF issuers. This deal, by the way, builds on Goldman's announcement back in April that the firm had closed the acquisition of Innovator Capital Management, a leader in defined outcome ETFs, which are funds that use options to limit potential stock market losses in exchange for a limit on the gains over a set period of time.

Well, by integrating Innovator's then roughly $31 billion in assets under supervision across a suite of more than 170 ETFs, Goldman Sachs' asset management division jumped to become a top 10 global active ETF provider. Well, Goldman's buying spree is a move to capture surging investor demand for actively managed and income-generating strategies.

Goldman Sachs’ New $2B Revenue Stream & Chili’s Banks on Chicken

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Goldman Sachs’ New $2B Revenue Stream & Chili’s Banks on Chicken

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.